State Tax Collections: T16 Tobacco Products Sales Tax for Florida
QTAXT16QTAXCAT3FLNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
199.00
Year-over-Year Change
-19.11%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks Florida's tax revenue from the sale of tobacco products. It is an important indicator of consumer behavior and state fiscal health.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Tax Collections: T16 Tobacco Products Sales Tax for Florida measures the total tax revenue collected by the state on the sale of tobacco products, such as cigarettes and cigars. This data provides insight into trends in tobacco consumption and can inform policy decisions around public health and state budgeting.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Historical Context
Policymakers and analysts use this data to assess the impact of tobacco taxes and monitor changes in consumer behavior.
Key Facts
- Florida's tobacco tax revenue totaled $1.2 billion in 2021.
- Tobacco tax collections have declined by 20% over the past decade.
- Tobacco taxes account for approximately 3% of Florida's total tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Florida on the sale of tobacco products, such as cigarettes and cigars.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into trends in tobacco consumption and can inform policy decisions around public health and state budgeting.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the impact of tobacco taxes and monitor changes in consumer behavior.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Florida (QTAXT16QTAXCAT3FLNO), retrieved from FRED.